EC Sourcing Group

JUNE 28, 2022

Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. Because purchases are small, they usually fall through the cracks, making it tough to gauge your overall spend. Keep in mind that tail spend encompasses many purchases and definitions.

Optimal Sourcing 52

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EC Sourcing Group

JULY 7, 2020

What Is eSourcing in Supply Chain Management? If you work in procurement or the purchasing department, you’re already aware of how it works. If you’re wondering, “ What is eSourcing in supply chain management? ” Read on to learn, “What is eSourcing in supply chain management? ” evaluation.

Manufacturing Procurement 52

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EC Sourcing Group

MAY 28, 2020

What Are the Goals of Procurement Management? The goals of procurement management are generally to acquire goods and services with the highest quality at the lowest cost to create an end product. For instance, every purchasing department wants to lower costs and be more productive, so these are concrete goals. .

Procurement Analytics 52

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EC Sourcing Group

OCTOBER 26, 2021

Before the Internet was a vital tool in business, the supply chain was a much different place than today. Read on to learn about the importance of quality in supply chain management, how IT helps to achieve that quality, and more details about the supply chain. Cost reduction.

Supply Chain Software 52

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EC Sourcing Group

NOVEMBER 16, 2021

Effectively managing your suppliers is an integral part of the procurement process (and important to the entire supply chain as well). Without goods and services, nothing can be produced, which would make procurement impossible. So if you’re wondering, “What is supply chain management and why it is important?,”

Procurement Solutions 52

Procurement Solutions Analytics Software Logistics Network Optimization Software Supply Chain Software 52

EC Sourcing Group

JULY 28, 2020

Objectives of Procurement Management. The objectives of procurement management can range from the most general, such as “buying goods and services,” to the more complex, such as “supporting organizational goals within the team.” What Is Procurement Management? Objectives of Procurement Management: Managing Contracts.

Manufacturing Procurement 52

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EC Sourcing Group

SEPTEMBER 22, 2020

There are many terms when it comes to all levels of procurement management, which is a smaller part of the overall supply chain. Many companies and organizations have delved further, looking to tools such as advanced sourcing optimizers; to streamline this part of procurement management. Volume discounts.

Optimal Sourcing 52

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EC Sourcing Group

JULY 21, 2020

For those in procurement management, this may refer to several different types of tools and software, especially those that help with price compression like eAuction software procurement or those that streamline processes and compress timelines like eSourcing software. . What is E-Procurement in Supply Chain Management?

Procurement Solutions 52

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EC Sourcing Group

JULY 29, 2021

eSourcing technology has certainly come a long way, but everyone’s procurement process is slightly different, and you may find there is no one-size-fits-all solution out there —at least so far. Even if these are features you don’t think you need, in most situations, they will help with your supply chain and procurement flow.

Procurement Solutions 52

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EC Sourcing Group

SEPTEMBER 6, 2022

Why You Should Choose Companies with Green Supply Chains. There is no denying that companies with green supply chains are becoming more and more the norm. A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution.

Material Savings 52

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EC Sourcing Group

MAY 17, 2022

Global supply chain optimization is simply taking a closer look at and revamping your current supply chain to operate at its best. Your supply chain is the backbone of your business, no matter what role you play in purchasing and procurement. So, what is supply chain management ?

Optimal Sourcing 52

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EC Sourcing Group

MARCH 12, 2023

If you want to streamline your supplier evaluation process, increase supply chain efficiency, and reduce costs, building an ideal supplier scorecard is crucial. Identify your data sources that can help identify supplier performance.

Procurement Analytics 52

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EC Sourcing Group

JANUARY 19, 2023

S pend analysis in procurement is a longstanding concept, however, implementation can be difficult without the proper tools. Over the years, implementing this kind of analysis has become more accessible than ever with the advent of robust procurement tools and software.

Analysis 52

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EC Sourcing Group

SEPTEMBER 13, 2023

At Seaboard Corporation, a leading global agribusiness and key player in the grain and flour milling industry, this transformation was driven by the need to modernize their procurement process and stay competitive in a rapidly evolving business landscape.

Procurement Solutions 52

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EC Sourcing Group

JULY 5, 2022

The process of spend analysis has specific goals of efficiency and saving money by increasing visibility into spend, which can decrease overall procurement costs. is vital to procurement and the supply chain. They can help automate your process and streamline procurement and eSourcing. In-house software.

Analysis 52

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EC Sourcing Group

NOVEMBER 1, 2022

The manufacturing industry has unique needs when it comes to purchasing. Having the right RFP solutions for manufacturing can streamline your overall sourcing and procurement processes, keeping a stable supply chain. This not only includes RFP templates but RFQ in procurement templates and others.

Manufacturing Procurement 52

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EC Sourcing Group

FEBRUARY 8, 2023

If you’re still performing sourcing manually or are curious about how to streamline your sourcing methods , read on to learn about these five ways traditional sourcing methods hold you back, and why tech-enabled sourcing strategies in procurement are a far better choice.

Optimal Sourcing 52

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EC Sourcing Group

MARCH 14, 2022

Managing tail spend in procurement and the entire supply chain process is vital; poor tail spend management can lead to considerable loss. The right tail spend software and procurement software can help you keep track of rogue spend by using tools such as tail spend analysis. Redundant or mundane purchases.

Procurement Solutions 52

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EC Sourcing Group

SEPTEMBER 13, 2019

If you could automate the procurement process for low value items and gain control over tail spend, what would that mean for your company? Elimination or reduction of transaction costs. The first step is to identify as many manual procurement processes as possible that could be automated. Significant improvement in data quality.

Procurement Solutions 45

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EC Sourcing Group

OCTOBER 4, 2022

Strategic Sourcing Solutions to Enhance Your Bottom Line. Strategic sourcing is vital to procurement and the supply chain overall, as it allows companies to gain the lowest cost of a good or service while minimizing supply chain risk. What Is Strategic Sourcing?

Negotiating Skills 52

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EC Sourcing Group

SEPTEMBER 27, 2022

Not long ago, sourcing was still an “analog” process, with a lot of back-and-forth communication via phone calls, emails, and meetings in person. Technology has finally caught up with sourcing and procurement—evolving processes by leaps and bounds in a relatively short amount of time. eSourcing Platforms : The Must-have Tools.

Analytics Software 52

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EC Sourcing Group

JULY 12, 2022

Not all procurement and eSourcing software are created the same—perhaps your current solution lives up to expectations in some areas but the eSourcing module isn’t quite what you need. This is a fairly common problem, as businesses have different priorities and nuanced procurement needs. Do you know which is right for your company?

Procurement Solutions 52

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EC Sourcing Group

APRIL 26, 2022

The eTendering process is an integral part of procurement and the overall supply chain. eTendering, also known as eSourcing , is simply the act of conducting procurement online—namely, receiving and sending tenders using an online platform, like tender process software. Reduced cost of operations.

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EC Sourcing Group

MAY 24, 2022

Even those who don’t work in procurement or purchasing are familiar with auctions, whether they’ve used bidding sites, gone to a live auction, or seen one played out on TV. eReverse auctions can be very beneficial to procurement. eReverse auctions can be very beneficial to procurement. Analytics features.

Optimal Sourcing 52

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